News

US soybean prices rise more than 1% this Friday afternoon in Chicago, following derivatives and wheat

Soybean
Oil & Fats
United States
Market & Price Trends
Published Apr 20, 2024

Tridge summary

Soybean prices have seen a notable increase on the Chicago Stock Exchange, driven by a combination of factors including the bran market's influence, supply concerns in Argentina, and a more than 2% rise in wheat prices. The upward trend is further supported by a weakening dollar against the real, increased demand for US soybeans, and a new sale announcement by the USDA. The article also emphasizes the importance of monitoring the climate in the US, where soybean planting has commenced, and the conclusion of the harvest in Brazil and Argentina, with current conditions in the Corn Belt being favorable for field work.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The week is coming to an end, but soybean volatility is not. Oilseed prices rose significantly again on the Chicago Stock Exchange this Friday (19), with gains varying between 12.50 and 13.75 points, around 1:50 pm (Brasília time), with May being quoted at US $11.48 and August at $11.64 per bushel. Once again, the bran market pulls the grain. Derivative futures rose more than 1.5% this afternoon, still reflecting concerns about supply in Argentina, as well as following the intense rise in wheat, which had an increase of more than 2% among the most traded positions on the CBOT , with the first position being quoted at US$5.64 per bushel. In addition to bran and wheat, the prices of soybean oil also rose - which were operating in the negative at the beginning of the day - and contributed even more to the prices of the oilseed. Gains were just over 0.3%. Two other factors that favor the rise in soybean prices in Chicago are the falling dollar - against the real losing more than 1% ...
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